Your Personal Finance Guide

Pradhan Mantri Suraksha Bima Yojana

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Pradhan Mantri Suraksha Bima Yojana ( PMSBY ) is an accidental insurance scheme launched by Government of India at low cost premium. It especially beneficial to low income category group.

Features of PMSBY:

  • By paying just ₹12 per annum it provides insurance cover against death, total disability, and partial disability of upto ₹ 2 lakhs.
  • You can renew it yearly at ₹12 and continue the cover.
  • You can apply for this scheme through any bank through online or by visiting the branch.
  • You can select auto debit feature with bank so that each year the premium is debited and you can continue the cover.
  • The minimum age requirement is 18 and maximum is 70 years.

Claim process of PMSBY:

  • Policyholder/nominee should reach the bank or the insurance company from where the policy was purchased to raise the claim or you can also claim online if your bank accepts online mode.
  • You have to fill the required details like name, address, hospital bills etc., (You can find form here: claim form)
  • For the above form you have submit supporting documents like disability certificate if disabled or death certificate in case of death if nominee raises the claim
  • Then all details are validated by bank and the money will be credited to respective bank according to the policy.


1 Comment
  1. Krishna says

    Nicely articulated

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